The first part of the pandemic turned out to be a goldmine for many of the major hedge funds in the United States and internationally. Ole Andreas Halvorsen (60), who heads and manages the hedge fund Viking Global Investors, had one of his best years in 2020.
But then came 2021, and Halvorsen and the team went on a big bang with a negative return of 4.5 percent. Nor has the turbulent stock market year 2022 been a dance on roses.
In the first half of 2022, the largest fund for Viking Global, with values of approximately 19 billion dollars, has lost 7.4 percent, Bloomberg writes on Wednesday.
Although the fund is about to reach its largest half-yearly loss ever, this is nothing compared to other funds led by so-called “tiger cubs”. These are former colleagues in the legendary hedge fund Tiger Management i New York. So far this year, some of these managers have lost up to 30 percent or more, according to Bloomberg.
– Lower net exposure, and better balance between our long-term and short-term equity positions, have reduced some of the effects of the broad sell-off in the stock market, Viking Global wrote in an update to investors on Tuesday.
